CALGARY, ALBERTA--(Marketwired - July 28, 2016) - Blackbird Energy Inc. ("Blackbird") (TSX VENTURE:BBI) is pleased to announce that it has entered into an agreement for the acquisition of an indirect 10% minority interest in Stage Completions Inc. ("Stage"), a Canadian technology and services company that specializes in pin-point multistage completions, for a cash purchase price of $3.0 million (the "Transaction"). The Transaction remains subject to TSX Venture Exchange approval and the satisfaction of certain closing conditions including with respect to operational matters and the receipt by Blackbird of an independent valuation.

Stage has developed disruptive new technology at the forefront of the oil and gas completions industry. Stage's technology provides access to the plug and perf market through its designed, owned, manufactured and patented fracturing systems that are focused on sliding sleeve technology. The strategic assessment of fracturing tool inefficiencies has resulted in the development of the disruptive solution for technically challenging applications in horizontal, vertical, and multi-lateral wells in all formations.

Stage's fracturing technologies will enable operators to increase well productivity and significantly reduce well costs through:

Sliding sleeve systems with a constant ID (internal diameter) which allows for more efficient pumping throughout the wellbore, reduced friction, reduced pumping times and more efficient flowback;

Virtually unlimited stages (stage counts over 100); and

The ability for a ball and collet to be reinstalled at a later date for re-frac and re-stimulation.

Garth Braun, Chairman, CEO and President of Blackbird, stated, "Blackbird is making this investment to be in a control position on costs while also having the ancillary benefit of being a shareholder of disruptive completions technology. The Stage system was recently deployed on Blackbird's water disposal well, where its capabilities were clearly demonstrated. In large part due to the Stage technology, we drilled and completed our water disposal well on-time and below budget. With the use of Stage's proprietary sliding sleeve completion systems, Blackbird believes it can achieve cost savings of between $1.5 and $2.0 million per Montney well compared to competing sliding sleeve and plug and perf technologies."

Additionally, Blackbird's investment will yield the following benefits:

The Transaction is a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101″) as Mr. Garth Braun, the Company's Chairman, Chief Executive Officer and President is also a director of Stage and Sean Campbell, a director of Blackbird, holds an indirect controlling interest in Stage and is also the President and a director of Stage. The Transaction is exempt from the requirement to obtain minority shareholder approval and a formal valuation as required by MI 61-101 as the fair market value of the transaction is not more than the 25% of the Company's market capitalization.

About Blackbird

Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.

This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. Such forward looking statements include but are not limited to: management's expectations as to the cost savings to be derived from use of the Stage Completions Inc. technology and the other benefits of the Transaction including priority access to the technology and growth potential of the minority interest investment.

No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling and completion risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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